SBI Group, one of the leading financial services giants in Japan, has announced that it plans to start trading Shiba Inu (SHIB) through its crypto asset platform SBI VC Trade. Meanwhile, SHIB is the most held altcoin among the 100 ETH whales, excluding Ethereum and stablecoins.
Japan’s leading financial giant Adds SHIB to its list
Finance giant SBI Group made an exciting announcement today regarding its entry into crypto trading. SBI VC Trade, the group’s subsidiary in charge of the crypto-asset exchange business, announced that it will offer trading services for Shiba Inu (SHIB) from June 28.
Focusing primarily on providing comprehensive services that increase customer satisfaction, SBI VC Trade aims to meet the growing demand for crypto. The company includes the Shiba Inu as well as Dai (DAI) and Cosmos (ATOM), bringing the total number of supported digital assets to 20. The firm aims to provide a variety of services, including sales, savings offers and lending services. In addition, SBI VC Trade will offer special trading options for storing digital assets that exceed a certain threshold set by the company.
SBI VC Trade recognized the Shiba Inu as an Ethereum-based digital currency inspired by Dogecoin. In the press release, SHIB stated that it has a significant following. He also highlighted that it has become one of the leading crypto assets globally. SBI VC Trade has outlined specific trading details for the Shiba Inu. The trading unit for SHIB has been set at 1,000 tokens and the minimum order quantity has been set to the same value. It is possible for traders to place orders for SHIB up to a maximum amount of 5,000,000,000. The tick size in orders will be 0.000001.
Altcoin project gains importance in Japan
By adding the altcoin to its platform, SBI Group acknowledges the growing importance and potential of SHIB in the market. SBI VC Trade aims to meet the changing needs of its clients by including assets such as SHIB. This development comes about a month after it was revealed that Shiba Inu community leader Shytoshi Kusama had been replaced by Niseko, Japan. This move caused speculation among supporters.
Support for SBI VC Trade further strengthened SHIB’s position as a key asset in Japan. Especially, cryptocoin.comAs you follow, several Japan-based exchanges have also added SHIB to their list, including OKCoin Japan and BitFlyer. BitPoint became the first major Japanese exchange to list the asset.
Giant ETH whales hold $600M worth of SHIB
WhaleStats data reveals that the top 100 ETH Whales hold 49,621,465,093,470 (49.62 trillion) SHIBs worth $601,204,724 ($601.20 million) in their wallets. This makes SHIB the fourth most-held altcoin among these high-profile investors, after Ethereum, USD Coin (USDC), and Tether (USDT).
Ethereum remains an undeniable favorite among the top 100 ETH whales as they currently hold 3,126,300 (3.12 million) ETH. At current market prices, this stash of Ethereum is worth $5,134,518,100 ($5.13 billion). While Ethereum has the lion’s share, these big ETH whales are diversifying their portfolios with significant investments in other cryptocurrencies. USD Coin is catching the attention of these top investors, with its collective wallet balance of 788,814,570 (788 million) USDC tokens worth approximately $789,051,954 ($789.05 million). Tether follows closely with the top 100 ETH whales holding 706,994,142 ($706.99 million) tokens worth $706,901,668 ($706.90 million).
Whales’ interest in SHIB has been rekindled after SHIB lead developer Shytoshi Kusama announced in a recent blog post the final step towards launching the much-anticipated Shibarium Mainnet. Kusama stated that the Shiba Inu team will come out with the “Worldpaper” with the release of the Shibarium Mainnet. Shiba Inu’s Worldpape is reportedly a comprehensive document covering various aspects of the Shiba Inu ecosystem, including tokens such as SHIB, BONE, LEASH TREAT, and Shi, among other elements. This comprehensive resource aims to provide in-depth information on the functionality and potential of these tokens in the Shiba Inu ecosystem.
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